The company announced the news on Monday that they now have 70 percent ownership in Winfrey's network.

OWN was launched in 2011 and was a venture between Oprah's Harpo Inc and Discovery.

Discovery is reported to have paid $70-million for its additional 24.5 percent stake in the network. The queen of talk will still be the CEO of OWN.

Discovery president and CEO David Zaslav in a statement said: "In an increasingly crowded landscape, OWN has emerged as the leading destination for African-American women and one of the strongest superfan brands across all screens and services."